Fraudster jailed over bid to steal Dh5 million proceeds of gem sale

Businessman attempted to claim huge sum from sale for himself

A greedy fraudster who forged his business partner's signature in a bid to steal the Dh5 million proceeds of a lucrative gem sale has been jailed.

The Dubai-based businessman had assisted in the sale of the precious stones by a Kosovan family who were aiming to use the money for a factory expansion in their homeland.

The wealthy family had hoped to provide more job opportunities for women in the country, Dubai Criminal Court heard.

But after a deal was finalised, the 62-year-old defendant forged his partner's signature in order to gain sole access to the account in which the cash from the sale was still being held.

Bank officials grew suspicious of his motives and police were later alerted.

The bank’s operations manager told the court that the defendant had attempted to make himself the sole signatory on the joint account.

“During 2016 the accused came to see me at the bank alone and presented an official document issued by a court,” said the manager.

“He asked that his partner’s signature no longer be used and for his signature to be the only one recognised by the bank.”

The defendant was convicted of forging a number of documents as well as attempting to steal Dh5m, which he denied in court last October.

He told judges that his business partner had framed him, but his claim was rejected.

He was convicted of the crime and  sentenced to three years in prison, to be followed by deportation.